Vornado Realty Trust Secures $350M Loan For Office Building At 909 Third Avenue In Midtown East
909 Third Avenue, Manhattan, New York, NY, USA
$350,000,000
$261/SF
Building Size
1,340,000 SF
Asset Type
Office
Closing
Mar 28, 2021
About this deal
AI
The property asset involved in this transaction is an office located at 909 Third Avenue in Midtown East. The office space spans approximately 1,340,000 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $350,000,000
- Date: 03/29/2021
- Lender: Citigroup, Bank of America Securities, and BMO Capital Markets
- Landlord: Vornado Realty Trust
The loan for this transaction was provided by Citigroup, Bank of America Securities, and BMO Capital Markets. The loan amount is $350,000,000. The landlord in this deal is Vornado Realty Trust.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93